Dublin, Feb. 05, 2020 (GLOBE NEWSWIRE) -- The "Smart Railways Market by Solution (Rail Asset Management & Maintenance, Operation & Control, PIS, Communication & Networking, Security & Safety, and Rail Analytics) and Service (Professional and Managed), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global smart railways market is forecast to grow from USD 20.5 billion in 2019 to USD 39 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.7% from 2019 to 2024.

The technological advancement targeted toward the enhancement of customer experience, government initiatives for smart cities and Public-private partnership (PPP) working model, and adoption of Internet of Things (IoT) and automation technologies to enhance optimization are the factors considered to be driving the growth of the smart railways market.

By offering, the solutions segment to account for a higher market share during the forecast period

Solutions play a crucial role in handling all railways operations-related activities that include moving goods from the suppliers to the place of production and eventually to the end user. To ensure that the raw materials or finished goods reach the market on time and to improve the operational efficiency, railways management systems and connectivity solutions are necessary. The solutions systematically support action plans for reducing traffic congestion, efficient signaling over traffic, and managing ticket collection and security system.

By solution, the rail communication and networking system segment to hold the largest market size in 2019

The rail communication and networking system segment involves voice and data between the train and track equipment for better traffic and infrastructure management. Rail communication and networking system provides the most secured communication among all railway operation management facilities and data networks, as well as effective communication in remote areas, such as rail construction sites or natural disaster sites.

Railway communication systems provide reliable transmission of signaling, voice, video, and data traffic along railway lines and across backbone transmission networks. Rail communication and networking system provides secured communication among all railway operation management facilities and data networks. These are the factors contributing to the growth of the rail communication and networking system segment of the smart railways market.

By region, Asia-Pacific to grow at the highest CAGR during the forecast period

Asia-Pacific (APAC) is estimated to be the fastest-growing region in terms of the growth of the smart railways market, due to a rise in the adoption of new technologies, higher investments for digital transformation, and the growth in Gross Domestic Product (GDP) of the APAC countries.

A majority of potential economies in the region, including Australia, Singapore, China, Korea, Hong Kong, and India, are expected to rapidly invest in the technological transformation of rail infrastructure. The high population growth rate in the region has intensified the need to transform and expand the existing rail infrastructure.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Smart Railways Market
4.2 Market in Europe, By Offering and Country
4.3 Market Major Countries

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancement Targeted Toward Enhancement of Customer Experience
5.2.1.2 Government Initiatives for Smart Cities and PPP Working Models
5.2.1.3 Adoption of IoT as Well as Automation Technologies to Enhance Optimization
5.2.2 Restraints
5.2.2.1 High Initial Cost of Deployment
5.2.2.2 Lack of Technology Infrastructure and Interoperability
5.2.3 Opportunities
5.2.3.1 Autonomous Trains to Provide Growth Opportunities for Smart Railways Solution Providers
5.2.4 Challenges
5.2.4.1 Integration Complexities of Legacy Systems and Networks
5.3 Industry Trends
5.3.1 Evolution
5.3.2 Value Chain Analysis
5.4 Case Studies
5.4.1 Case Study 1: Cisco, Davra Networks, and Intel Deliver Edge Analytics to San Diego Metropolitan Transit System
5.4.2 Case Study 2: Bane Nor Selected Thales to Provide Next-Generation Nationwide Traffic Management System
5.4.3 Case Study 3: Intelligent Software System By Huawei Analyzes Data, Improves Surveillance Efficiency, and Implements Convenient Surveillance Management Solutions for Qinghai-Tibet Railway

6 Smart Railways Market By Offering
6.1 Introduction
6.2 Solutions
6.2.1 Passenger Information System
6.2.1.1 Multimedia Information and Entertainment
6.2.1.1.1 Passenger Demand of Digital Media Content for Entertainment to Drive Adoption of Multimedia Information and Entertainment Solutions in the Market
6.2.1.2 Network Connectivity
6.2.1.2.1 Growing Network Connectivity to Drive Demand for Network Connectivity Solutions in the Market
6.2.2 Freight Management System
6.2.2.1 Freight Operation Management
6.2.2.1.1 Growing Need to Improve Efficiency of Fright Operations to Drive Demand for Freight Operation Management Solutions in the Market
6.2.2.2 Freight Tracking
6.2.2.2.1 Growing Demand for Tracking Real-Time Location Information of Cargo Containers to Drive Demand for Freight Tracking Solutions in the Market
6.2.3 Security and Safety Solutions
6.2.3.1 Video Surveillance and Analytics
6.2.3.1.1 Growing Need to Analyze Huge Amount of Visual Data From Security and Safety Perspectives to Drive Demand for Video Surveillance and Analytics Solutions in the Market
6.2.3.2 Intrusion Detection
6.2.3.2.1 Increasing Instances of Theft to Drive Demand for Intrusion Detection Solutions in the Market
6.2.3.3 Access Control
6.2.3.3.1 Need to Restrict Access to Unauthorized Users in Rail Infrastructure to Drive Demand for Access Control Solutions in the Market
6.2.3.4 Fire Alarm and Voice Evacuation
6.2.3.4.1 Need to Notify People to Evacuate in Case of Fire to Drive Demand for Fire Alarm and Voice Evacuation Solutions in the Market
6.2.3.5 Others
6.2.4 Rail Communication and Networking System
6.2.4.1 Ground-To-Train Communication
6.2.4.1.1 Need to Enhance Communication Between Moving Vehicles and Train Control Stations to Drive Demand for Ground-To-Train Communication Solutions in the Market
6.2.4.2 Train-To-Train Communication
6.2.4.2.1 Need to Establish Communication Between Moving Rail Vehicles to Drive Demand for Train-To-Train Communication Solutions in the Market
6.2.5 Smart Ticketing System
6.2.5.1 Rising Demand to Simplify the Ticketing Process to Drive Demand for Smart Ticketing Solutions
6.2.6 Rail Analytics System
6.2.6.1 Emergence of Predictive Analytics to Drive Demand for Rail Analytics Systems in the Market
6.2.7 Rail Asset Management and Maintenance Solutions
6.2.7.1 Asset Planning and Scheduling
6.2.7.1.1 Growing Demand for Better Passenger Experience to Drive the Demand for Asset Planning and Scheduling Solutions in the Market
6.2.7.2 Workforce Management and Optimization
6.2.7.2.1 Need to Maximize Operation Agility and Workforce Productivity to Drive Demand for Workforce Management and Optimization Solution in the Market
6.2.7.3 Condition-Based Monitoring
6.2.7.3.1 Need to Improve Reliability of Existing Rail Infrastructure to Drive Demand for Condition-Based Monitoring Solutions in the Market
6.2.7.4 Predictive Maintenance
6.2.7.4.1 Need to Increase Life of Rail Assets to Drive Demand for Predictive Maintenance Solutions in the Market
6.2.7.5 Others
6.2.8 Rail Operation and Control Solutions
6.2.8.1 Demand to Increase Efficiency of Rail Operations to Drive Demand for Rail Operation and Control Solutions in the Market
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.1.1 Need to Understand Organizational Demand for Customized Smart Railways Solutions to Drive Adoption of Consulting Services in the Market
6.3.1.2 System Integration and Deployment
6.3.1.2.1 Need to Deploy Smart Railways Solutions Efficiently to Propel Demand for System Integration and Deployment Services in the Market
6.3.1.3 Support and Maintenance
6.3.1.3.1 Increase in Adoption Rate of Smart Railways Solutions to Lead to Growth in Demand for Support and Maintenance Services in the Market
6.3.2 Managed Services
6.3.2.1 Growing Demand to Outsource Maintenance of Smart Railways Solutions to Drive Demand for Managed Services in the Market

7 Smart Railways Market, By Region
7.1 Introduction
7.2 North America
7.2.1 United States
7.2.1.1 Government Initiatives to Drive the Smart Railways Market Growth in the US
7.2.2 Canada
7.2.2.1 Increasing Number of Passengers and Growing Freight Traffic to Drive the Market Growth in Canada
7.3 Europe
7.3.1 United Kingdom
7.3.1.1 Need to Improve Efficiency of the Existing Railway Infrastructure to Boost the Market Growth in the UK
7.3.2 Germany
7.3.2.1 Growing Adoption of IoT and Analytics to Boost the Market Growth in Germany
7.3.3 France
7.3.3.1 High Investments By Railway Operators to Drive the Market Growth in France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.1.1 High Government Investments in Railway Infrastructure and Rapid Growth in the Railway Sector to Drive the Smart Railways Market Growth in China
7.4.2 India
7.4.2.1 Growing Profits in the Railway Sector and Government Initiatives for Smart Cities to Drive the Market Growth in India
7.4.3 Japan
7.4.3.1 Higher Adoption of Railway Technologies to Boost the Market Growth in Japan
7.4.4 Rest of Asia Pacific
7.5 Middle East and Africa
7.5.1 Nigeria
7.5.1.1 Government Initiatives Combined With Cooperation With Other Countries to Boost the Smart Railways Market Growth in Nigeria
7.5.2 Turkey
7.5.2.1 Government Initiatives to Drive the Market Growth in Turkey
7.5.3 Rest of Middle East and Africa
7.6 Latin America
7.6.1 Brazil
7.6.1.1 High Scope for Further Development of Railway Infrastructure to Boost High-Growth Opportunities in Brazil
7.6.2 Mexico
7.6.2.1 Strategic Location to Play Key Role in Development of Railway Infrastructure in Mexico
7.6.3 Rest of Latin America

8 Competitive Landscape
8.1 Competitive Leadership Mapping
8.1.1 Visionary Leaders
8.1.2 Innovators
8.1.3 Dynamic Differentiators
8.1.4 Emerging Companies
8.2 Ranking of Top Players in the Smart Railways Market, 2019

9 Company Profiles
9.1 Introduction
9.2 Alstom
9.3 Cisco Systems
9.4 Wabtec
9.5 ABB
9.6 IBM
9.7 Hitachi
9.8 Huawei Technologies
9.9 Indra
9.10 Siemens
9.11 Honeywell
9.12 Bombardier
9.13 Thales
9.14 Advantech
9.15 Fujitsu
9.16 Toshiba
9.17 Alcatel-Lucent Enterprises
9.18 Moxa
9.19 EKE-Electronics
9.20 Televic
9.21 Aitek S.p.A.

For more information about this report visit https://www.researchandmarkets.com/r/wuo77q

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